JOIN USIt is visible to all that India, and Bangalore specifically, is undergoing what one could call a startup boom. Novel ideas are put in place, initial capital is sought out and voila, a new company exists! There are enough and more registered companies being driven by the bandwagon of young entrepreneurs who are trying to do something new.
But for many, the idea of a physical outlet to represent them seems like a dicey option, owing to high rents and no guarantee of results. This has resulted in the simultaneous spurt of those who are using the Internet as their chosen means of carrying out business. With social media being one of the most effective tools to tap in to target audiences, many don’t wish to bother setting up shop.
For Jacob Inasu, managing director of ‘OceanSpace’, for instance, the online web allowed tapping in on entirely new markets. “At OceanSpace, we offer our customers customised marine aquariums that are very durable. We understand that it is important for our customers to make an informed decision before they invest in a unique ecosystem of their own. The online space helps us connect with our audiences, giving them a detailed preview of the many options they can choose from. We feel closer to our customers this way and are always accessible to them real time as well, which we think is important in today’s day and age,” he explains.
Even the food and beverage industry has taken to this trend. There are enough and more chefs and bakers out there running on the online marketing model. “How we go about is we take orders, bake and deliver. We have a production kitchen but we don’t want an outlet for our venture at the moment. Once we’re better established and have the money, we can think about that,” shares Sindhu Basavaraju, who runs an online cake shop called ‘The Little Patisserie’ with Supriya S. She adds, “The initial investment for retail space was an area of concern for us since we were completing our engineering when we started this. We realised that it was too risky an option. We don’t need a formal space when we have social media, word-of-mouth and events like frequent flea markets to showcase our skills.”
However, she does admit that this model has its own pros and cons. “The biggest plus point is that there is no wastage charge since we bake only based on the demand. On the other hand, there can be too many orders or none. Today’s generation functions on-the-go. They would rather pass by a shop, step in and pick up a cake for an occasion than plan in advance and book it. You’re saving in one way and losing out in another,” elaborates Sindhu.
The best part about this approach is that one can find everything under the sun online these days — from clothes and books to antiques and aquariums. That’s exactly why there are so many takers for it.
“Online shopping goes hand in hand with the risk of what you ordered not being what you receive. But the return policy that most online companies have makes you want to give it a try. The variety and accessibility are what lure me,” confesses Priya, who prefers shopping with the click of a button over scouting the malls and
markets.